{"id":141,"date":"2007-07-20T10:50:20","date_gmt":"2007-07-20T10:50:20","guid":{"rendered":"http:\/\/www.dgen.net\/blog\/index.php\/2007\/07\/20\/level3-acquires-servecast-for-22m\/"},"modified":"2018-11-19T00:15:17","modified_gmt":"2018-11-19T00:15:17","slug":"level3-acquires-servecast-for-22m","status":"publish","type":"post","link":"https:\/\/dgen.net\/0\/2007\/07\/20\/level3-acquires-servecast-for-22m\/","title":{"rendered":"Level3 acquires Servecast for \u00a322m"},"content":{"rendered":"<p>I sold my streaming media company, <a href=\"https:\/\/dgen.net\/biog\/tornado.htm\">Tornado<\/a>, to <a href=\"http:\/\/www.servecast.com\/\">Servecast<\/a> in 2003 in a cash deal.\u00a0 At the time Tornado had doubled its revenues year-on-year since 1999. For a variety of reasons, we sold at what was probably the low point of the whole market.<\/p>\n<p>This <strong>cash<\/strong> deal of \u00a322m is based on just \u00a32.5m revenues from Servecast. In 2003, Tornado&#8217;s turnover was about a quarter of that and I had substantial equity.<\/p>\n<p>It&#8217;s been amazing to see the industry turn around and accelerate so quickly, and a pity sold when we did.<\/p>\n<p>[added to list of almost-millionaire stories]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I sold my streaming media company, Tornado, to Servecast in 2003 in a cash deal.\u00a0 At the time Tornado had doubled its revenues year-on-year since [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,44],"tags":[],"class_list":["post-141","post","type-post","status-publish","format-standard","hentry","category-business","category-startups"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfJFK3-2h","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/posts\/141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":1,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"predecessor-version":[{"id":2570,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/posts\/141\/revisions\/2570"}],"wp:attachment":[{"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dgen.net\/0\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}